MIRA INFORM REPORT
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Report No. : |
338404 |
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Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADANI POWER MAHARASHTRA LIMITED (w.e.f. 16.05.2008) |
|
|
|
|
Formerly Known
As : |
ADANI
POWER MAHARASHTRA PRIVATE LIMITED |
|
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Registered
Office : |
Adani House, Near Mithakhali Six Road, Navarangpura, Ahmedabad –
380009, Gujarat |
|
Tel No: |
91-79-25557606 |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.04.2007 |
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|
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Com. Reg. No.: |
04-050506 |
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Capital
Investment / Paid-up Capital : |
Rs. 28547.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40101GJ2007PLC050506 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA07282C |
|
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|
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PAN No.: [Permanent Account No.] |
AAGCA4102J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of power generation. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Satisfactory |
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Payment Behavior : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of Adani Power Limited. It is an established company having satisfactory track. The company has incurred loss from its operations during 2014.
External borrowings of the company also seems to be huge. However, the rating takes into consideration strong parentage and financial
support received from its group companies. However, trade relation are fair. Business is active. Payment terms
are reported to be usually correct. In view of strong holding companies, the company can be considered for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = A- |
|
Rating Explanation |
Have adequate degree of safety and carry moderate credit risk. |
|
Date |
17.07.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A2+ |
|
Rating Explanation |
Have Strong degree of safety and carry higher credit risk. |
|
Date |
17.07.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED
MANGAMENT NON-COROPERATIVE
Contact No. 91-79-26565555
LOCATIONS
|
Registered Office / Corporate Office
: |
Adani House, Near Mithakhali |
|
Tel. No.: |
91-79-26565555 |
|
Mobile No.: |
91-9545554954 (Mr. Prashant) |
|
Fax No.: |
91-79-26565500 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
|
|
|
|
Corporate Offices 2
: |
Sambhaav House, Judges Bungalow Road, Bodakdev, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-25556900 |
|
Fax No.: |
91-79-25557155 |
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|
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|
Corporate Offices 3
: |
Achalraj, Opposite Mayor Bungalow, Law Garden, Ahmedabad - 380006 , Gujarat, India |
|
Tel. No.: |
91-79-25557555 |
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Fax No.: |
91-79-25557177 |
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|
|
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Operating Locations
: |
Located at:
|
DIRECTORS
AS ON 07.08.2013
|
Name : |
Mr. Rajendra Kumar Madan |
|
Designation : |
Managing Director |
|
Address : |
D 002 Lagoon Apartment. NH 8, Abhience Island, Gurgaon, Haryana –
122001, India |
|
Date of Birth/Age : |
28.08.1941 |
|
Date of Appointment : |
01.03.2014 |
|
DIN No.: |
00899341 |
|
|
|
|
Name : |
Mr. Vijay Ranchan |
|
Designation : |
Director |
|
Address : |
Plot no.131, Sector 8-C, Gandhinagar – 382008, Gujarat, India |
|
Date of Birth/Age : |
01.10.1942 |
|
Date of Appointment : |
30.06.2014 |
|
DIN No.: |
01602023 |
|
|
|
|
Name : |
Mr. Vinod Bhandawat |
|
Designation : |
Director |
|
Address : |
E-573, Third Floor, Greater Kailash - II, New Delhi, 110048, Delhi, India |
|
Date of Appointment : |
08.08.2014 |
|
DIN No.: |
02873571 |
|
|
|
|
Name : |
Mr. Jayadeb Nanda |
|
Designation : |
Managing Director |
|
Address : |
566, Sahid Nagar, Bhubaneshwar - 751007, Orissa, India |
|
Date of Appointment : |
08.08.2014 |
|
DIN No.: |
06578925 |
|
|
|
|
Name : |
Mr. Chaitanya Prasad Sahoo |
|
Designation : |
Whole-Time Director |
|
Address : |
Shantiniketan-3,, Adani Power Maharashtra Limited Tiroda, Tirora Gondiya - 441911, Maharashtra, India |
|
Date of Birth/Age : |
52 Years |
|
Qualification : |
B.Sc. (Mech.) |
|
Experience : |
28 Years |
|
Date of Appointment : |
12.02.2015 |
|
DIN No.: |
06860381 |
|
|
|
|
Name : |
Mrs. Sushama Ashvin Oza |
|
Designation : |
Additional Director |
|
Address : |
G-2, Chitrakut Apartment, 36 Suvarnapuri Society, Off. Jetal Pur Road, Vadodara - 390007, Gujarat, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
07145540 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Rameshchandra Shah |
|
Designation : |
Company Secretary |
|
Address : |
16, Hilton Residency, Opp Shaligram 2, Anand Nagar, Seterlite,
Ahmedabad – 380051, India |
|
Date of Birth/Age : |
13.09.1962 |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ABHPS8793E |
|
|
|
|
Name : |
Mr. Vinod Bhandawat |
|
Designation : |
Chief Finance Officer |
|
Address : |
E-573, Third Floor, Greater Kailash - II, New Delhi - 110048, India |
|
PAN No.: |
ACFPB6418A |
|
Date of Appointment : |
27.01.2015 |
MAJOR SHAREHOLDERS
AS ON 07.08.2013
|
Names of Shareholders |
No. of Shares |
|
Adani Power Limited, India |
2854731136 |
|
Rajesh S. Adani (Nominee of Adani Power Limited, India) |
50 |
|
Gautam S. Adani (Nominee of Adani Power Limited, India) |
50 |
|
Devang Desai (Nominee of Adani Power Limited, India) |
1 |
|
Vineet Jain (Nominee of Adani Power Limited, India) |
1 |
|
Jayadeb Nanda (Nominee of Adani Power Limited, India) |
1 |
|
Jatin Jalundhwala (Nominee of Adani Power Limited, India) |
1 |
|
Total |
2854731240 |
AS ON 07.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
% of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of power generation. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Financial Institute: |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India |
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Auditors : |
|
|
Name : |
C.C. Chokshi and Company Chartered Accountants |
|
Address : |
Heritage, Third Floor, Near Gujarat Vidyapith, Off Ashram Road,
Ahmedabad – 380 014, Gujarat, India |
|
Tel No.: |
91-79-27582542/ 27582543 |
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Fax No.: |
91-79-27582551 |
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PAN No.: |
AACFC2938D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding
Company: |
Adani Enterprise Limited [L51100GJ1993PLC019067] |
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Fellow Subsidiaries
: |
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Immediate Holding
Company: |
Adani Power Limited [L40100GJ1996PLC030533] |
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Subsidiary Company
: |
Adani Transmission (Maharashtra) Limited (w.e.f 4th December 2013) [U40100GJ2013PLC077749] |
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Ultimate
Controlling Party : |
Shantilal Bhudhermal Adani Family Trust (SBAFT) |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,250,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 42500.000 Million |
|
750,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 7500.000 Million |
|
|
Total |
|
Rs. 50000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,854,731,240 |
Equity Shares |
Rs.10/- each |
Rs. 28547.300 Million |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
28547.300 |
28547.300 |
21819.600 |
|
(b) Reserves &
Surplus |
3915.400 |
9938.100 |
(327.500) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
32462.700 |
38485.400 |
21492.100 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
138020.300 |
102161.300 |
98663.100 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
183.600 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
3435.900 |
6823.700 |
|
(d) long-term provisions |
1232.400 |
17.900 |
8.700 |
|
Total Non-current
Liabilities (3) |
139252.700 |
105798.700 |
105495.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
10890.400 |
0.000 |
1619.000 |
|
(b) Trade payables |
4922.900 |
2225.400 |
23.000 |
|
(c) Other current
liabilities |
17064.600 |
24310.500 |
17617.600 |
|
(d) Short-term provisions |
748.200 |
22.700 |
0.100 |
|
Total Current Liabilities
(4) |
33626.100 |
26558.600 |
19259.700 |
|
|
|
|
|
|
TOTAL |
205341.500 |
170842.700 |
146247.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
143375.000 |
46058.000 |
1102.600 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
34163.700 |
109999.400 |
122730.200 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.500 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4316.700 |
5806.200 |
10636.100 |
|
(e) Other Non-current
assets |
1257.200 |
1174.400 |
2108.600 |
|
Total Non-Current Assets |
183113.100 |
163038.000 |
136577.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
152.900 |
0.000 |
90.000 |
|
(b) Inventories |
2125.800 |
2924.200 |
0.000 |
|
(c) Trade receivables |
12108.900 |
839.000 |
0.000 |
|
(d) Cash and cash
equivalents |
2408.300 |
1882.000 |
1802.100 |
|
(e) Short-term loans and
advances |
1621.900 |
963.700 |
7752.700 |
|
(f) Other current assets |
3810.600 |
1195.800 |
25.000 |
|
Total Current Assets |
22228.400 |
7804.700 |
9669.800 |
|
|
|
|
|
|
TOTAL |
205341.500 |
170842.700 |
146247.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
29147.800 |
2564.200 |
0.000 |
|
|
Other Income |
213.400 |
228.900 |
417.500 |
|
|
TOTAL |
29361.200 |
2793.100 |
417.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
19525.300 |
1893.000 |
0.000 |
|
|
Employees benefits
expense |
537.400 |
25.700 |
0.000 |
|
|
Other expenses |
1261.600 |
270.900 |
11.800 |
|
|
TOTAL |
21324.300 |
2189.600 |
11.800 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
8036.900 |
603.500 |
405.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
9510.200 |
2805.200 |
638.200 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(1473.300) |
(2201.700) |
(232.500) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5168.200 |
1031.700 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(6641.500) |
(3233.400) |
(232.500) |
|
|
|
|
|
|
|
Less |
TAX |
(183.600) |
184.000 |
45.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(6457.900) |
(3417.400) |
(277.900) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX FROM
DISCONTINUING OPERATIONS |
435.200 |
227.700 |
0.000 |
|
|
|
|
|
|
|
Add |
PROFIT/ (LOSS) FROM TOTAL OPERATIONS |
(6022.700) |
(3189.700) |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
CIF Value of Imports |
5468.600 |
1859.300 |
0.000 |
|
|
Components and Stores
parts |
43.800 |
192.300 |
0.000 |
|
|
Capital Goods |
1695.300 |
6013.600 |
24.841 |
|
|
TOTAL IMPORTS |
7207.700 |
8065.200 |
24.841 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(2.11) |
(1.46) |
(27.79) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
11395.100 |
7177.400 |
3916.700 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(2075.800) |
(1818.600) |
409.600 |
|
Net cash flows from (used in) operating activities |
(2216.600) |
(1994.100) |
(29.200) |
KEY
RATIOS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
Net Profit Margin (PAT / Sales) |
(%) |
(22.16) |
(133.27) |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
27.57 |
23.54 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.88) |
(5.31) |
(0.99) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.20) |
(0.08) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.94 |
2.84 |
4.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.66 |
0.29 |
0.50 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
21819.600 |
28547.300 |
28547.300 |
|
Reserves & Surplus |
(327.500) |
9938.100 |
3915.400 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
21492.100 |
38485.400 |
32462.700 |
|
|
|
|
|
|
long-term borrowings |
98663.100 |
102161.300 |
138020.300 |
|
Short term borrowings |
1619.000 |
0.000 |
10890.400 |
|
Current maturities of
long term debt |
3916.700 |
7177.400 |
11395.100 |
|
Total borrowings |
104198.800 |
109338.700 |
160305.800 |
|
Debt/Equity ratio |
4.848 |
2.841 |
4.938 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
417.500 |
2793.100 |
29361.200 |
|
|
|
569.006 |
951.205 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
417.500 |
2793.100 |
29361.200 |
|
Profit/loss |
(277.900) |
(3417.400) |
(6457.900) |
|
|
(66.56%) |
(122.35%) |
(21.99%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10533930 |
25/11/2014 |
500,000,000.00 |
LAKSHMI VILAS BANK LIMITED |
1ST FLOOR, BLUE STAR
COMPLEX, NAVRANGPURA, NR. OLD HIGH COURT RLY. CROSSINGS, AHMEDABAD,
GUJARAT |
C35395110 |
|
2 |
10532187 |
11/11/2014 |
600,000,000.00 |
IDBI BANK LIMITED |
IDBI COMPLEX, OFF C.G. ROAD, NEAR LAL BUNGLOW, AHMEDABAD, GUJARAT - 380006, INDIA |
C34209213 |
|
3 |
10521788 |
19/11/2014 * |
40,670,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C35253657 |
|
4 |
10491031 |
12/06/2014 * |
1,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C13072962 |
|
5 |
10490175 |
01/09/2014 * |
3,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C21019377 |
|
6 |
10490035 |
30/05/2014 * |
5,700,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C12325635 |
|
7 |
10469427 |
31/12/2013 |
4,550,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B93235703 |
|
8 |
10386813 |
19/03/2014 * |
2,934,700,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C03903697 |
|
9 |
10325568 |
26/09/2013 * |
62,015,300,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B85903359 |
|
10 |
10226709 |
28/06/2010 |
10,000,000,000.00 |
STATE BANK OF INDIA |
STATE BANK BHAVAN, MADAME CAMA ROAD, MUMBAI, MAHARASHTRA - 400021, INDIA |
A88584578 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
23900.300 |
13252.400 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
4318.200 |
0.000 |
|
Total |
28218.500 |
13252.400 |
PROJECTS OF THE
COMPANY
The Company is implementing 3300 MW (5x660MW) power project based on supercritical technology at Tiroda, Dist. Gondia, Maharashtra.
During the year the Company commissioned 1980 MW (3x660MW). With this the total operational capacity of the Company has reached to 2640 MW. The Company is also operating 400 kv D/C transmission line of about 218 kms from Tiroda, Maharashtra to Warora, Maharashtra as licensed activity under Maharashtra Electricity Regulatory Commission (MERC) Regulations.
FIXED ASSETS
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
· Railway Sidings
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report : No press reports / filings exists on the
subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.71 |
|
|
1 |
Rs. 105.01 |
|
Euro |
1 |
Rs. 77.11 |
INFORMATION DETAILS
|
Information Gathered
by : |
DIP |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavorable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.
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